Author: BEX Staff

Groundbreakings 1. Western States Lodging, along with development partners Boyer Group and Colmena Group, started work on Legacy Village of Salt River, a senior housing community. The property will offer 216 units in a mix of two-bedrooms, one-bedrooms and studios. 2. YAM Properties began construction at YAM Circle, a 17.8KSF shopping and dining hub in N. Scottsdale. The developer, YAM Properties LLC, is the real estate investment and development group of entrepreneur and philanthropist Bob Parsons. Progress Reports 3. Though overpass construction is delayed, the Arizona Department of Transportation intends to begin tearing down structures on properties it owns in Maricopa’s Heritage District…

Giving Back 1. In January, Chas Roberts A/C & Plumbing made a $50K donation to Executive Council 70, a group of local professionals dedicated to organizing fundraising activities for local charities including Phoenix Children’s Hospital. Awards & Accolades 2. AZ Big Media has released AZRE’s 40 Companies to Watch in 2018. 3. SVN | Desert Financial Advisors’ Jonathan Levy was accepted in the NAIOP Developing Leaders Program. He is the only professional from Arizona to be accepted into the program. Boards & Commissions 4. Denny Barney has been named president and CEO of East Valley Partnership effective June 1. 5. Commercial Properties, Inc./CORFAC International…

Source: Associated Builders and Contractors Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4B on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the…

By Jane Stewart for AZBEX Skyway, LLC, through Cawley Architects, Inc., has requested approval of an Amended Final Plat that would redistribute five parcels, located on the SWC of Rio Glass Solar Road and Dysart Road in Surprise, into two parcels of 4.59 and 5.05 parcels, respectively, within Skyway Business Park Planned Area Development. Cawley, working with Silagi Development and LGE Corporation, has created plans for two speculative office and warehouse buildings, known as Building H and Building J, to be constructed on the most northeastern corner of the site. Buildings H and J will be identical at 63.5KSF each…

Sales Transactions 1. Optima Sonoran Village near the Scottsdale Waterfront has sold for a record $210.4M. The complex on Camelback Road and 68th Street across from Scottsdale Fashion Square, was purchased by Des Moines-based Principal Real Estate. 2. CBRE has arranged the sale of BMO Tower at Central Arts Plaza, a 486KSF, 24-story Class A high-rise office building in Phoenix. The owners, a joint venture between McCarthy Cook & Co. and Morgan Stanley Real Estate Investing, sold the property, along with an adjacent 1.94-acre parcel, for $80.7M. Barry Gabel and Chris Marchildon with CBRE Capital Markets in Phoenix, and Todd Tydlaska and Sean Sullivan…

By Roland Murphy for Arizona Builder’s Exchange Phoenix’s Planning and Development Department is considering a pair of proposals from subsidiaries of Catholic Charities Community Services of Arizona to build low-income apartment developments near 19th Avenue and Camelback. Manzanita Village is proposed for 72 veteran- and family-targeted units on a 0.77 gross acre site south of the SEC of 19th Avenue and Colter Street. Mesquite Terrace, to the south of Manzanita Village, will put in place 80 senior-focused units on 0.85 acres. A 2017 report by the National Low Income Housing Coalition identified a significant lack of available affordable housing units…

By Jane Stewart for Arizona Builder’s Exchange Onelife Development, LLC, is looking to develop a parcel at the SWC of 32nd Street and Cheryl Drive as Shadow Mountain Memory Care, a 38KSF, 72-bed assisted living facility. The space lies within Phoenix’s Paradise Valley Village and Council District 3. The parcel is owned by Exaltation of the Holy Cross Orthodox Church, which currently sits on the property. Last November, Applicant/Developer Zack Falk with Onelife submitted the request to rezone the site from R1-10 to Planned Unit Development. The center’s design is “comprised of four wings each acting as a small neighborhood,”…

By Roland Murphy for Arizona Builder’s Exchange Irgens has submitted preliminary plans to develop a 48.8KSF speculative office building on 2.4 acres in north Scottsdale’s Perimeter Center Commons business park, 17300 N. Perimeter Drive. The move comes after the company last month sold a prior 43KSF Class A project on 6.54 acres at 17200 to Wan Hai Lines Ltd. for $10.35M. The deal allowed Irgens to retain the 2.4 acres for the current project. 17 Three Hundred will be a multi-tenant, two-story building of tilt-wall concrete. The floor plates will allow for tenant-configurable open space plans. A key feature of…

Groundbreakings 1. Irwin G. Pasternack AIA + Associates PC and Pasternack Properties recently broke ground on TEN Distribution Center 1, a Class A industrial building representing the first 1.1MSF in the planned $300M, more than 3.6MSF TEN Distribution Center industrial park on 83rd Avenue near the confluence of Interstate 10 and the Loop 101 in Phoenix. Irwin Pasternack serves as the property owner, architect and developer. 2. Maricopa Integrated Health System and the City of Peoria celebrated the groundbreaking of the new West Valley Primary and Specialty Care Center. When complete, the facility will address the health needs of the rapidly growing West Valley with a…

Awards & Accolades 1. The Pima County Small Business Commission has announced the winners of the Small Business of the Year Awards. They are Rural: Miura Contracting, Urban: Kool Air Industries, LLC, and Nonprofit: Pima Community College Small Business Development Center. Company News 2. With more than 20 years of commercial real estate industry expertise in property management, leasing, and project management, Jennifer Prior has launched her own company, PRE Consulting. The company will provide short-term solutions as well as full-service property management for CRE firms. 3. SoftBank Group led a Series D investment of $865M for Menlo Park-based Katerra Inc.,…